Gold Selling guide discussion

John_Pierpoint

I would expect a competent gold dealer to offer to test your chain for free, if it is likely you will sell it.

It will be tested with a magnet, as like our "copper" coinage (and the "silver" coins too soon) your item might only be plated.

Then the item can be tested to see if it is at least 9ct with an acid.
it can be tested as 12 - 18 and as 22ct or better with different acids.

As it is not hallmarked the dealer will be forced to assume it is at the bottom of the range tested by his testing kit; and pay you accordingly.

https://forums.moneysavingexpert.com/discussion/2084905

Have a read of the "Hatton Garden Metals" thread for happy punters reporting back that they have been paid £x for some un-hallmarked item.

https://forums.moneysavingexpert.com/discussion/2084905

emmaken

Eviecash wrote: »

Can anyone tell me of their experience with mycashgoldmine.co.uk?

Yes this is an interesting one!!
They are offering £13.30 a gram today. This is 100% of the UK gold fix
Question How can a gold buyer pay 100% of the UK fix (ie the price they will sell the gold for), make no profit whatsoever and yet be in business
I smell a too good to be true offer

My advice is stick to the proven companies eh HGM, Lois and Birmingham Gold Co

In fact I think we need a separate post on this newco...are they another British Gold refinery??

GenerationX

Thank you very much for the Hatton Garden Metals tip. I had a loved but broken bracelet to sell, and also dug up some old chains that hadn't been worn for 30 years. The service was exactly as described; the cheque came through by return for more than I expected. GREAT SERVICE!

JohalaReewi

A big thanks to all the reviews in this thread. In the end I used Hatton Garden and can say they did exactly what they said. I used kitchen scales to get a rough idea of the weight. Hatton seemed to weigh everything themselves anyway. Money paid by faster payment direct to bank.

tsmiller62

Hi all,

Does anyone have any experience of Hatton goldsmiths as opposed to HGM? Its just I have an actual shop which I prefer to sending my stuff away.

Thanks
Toni

lovethymini

hello, does anyone have any experience of selling high value watches? I looked on a few gold sites and I don't think they buy them..

tia

John_Pierpoint

You may be talking about 14 caret gold.
The scrap gold buyers will buy the watch at its gold value, but your posting is not clear. Is the watch valuable because of the weight of gold or because it is iconic/rare/antique?

If the latter, its value will be what ever a collector is prepared to pay for it. You might find something similar being sold on the web.

You could try somewhere like this:
http://www.thewatchforum.co.uk/

The more you know about what you are selling, the better the chances of getting full value for it.

lovethymini

Thanks for the post John; to answer your question, it's valuable because I suppose it's iconic, partly 18ct gold, mother of pearl, and diamonds.

Since my post I've submitted requests for quotes from two specialist online watch companies and I'm considering selling to one of them, which I will visit in person next week as it's only an hour's drive from home.
I don't think it's collectable as it is "only" 12 years old but it does have the certificate of authenticity, and the original box, bracelet links and papers etc.

John_Pierpoint

Is it possible to take it to bits so you can get an idea of the gold weight.

You need to know the gold value, though I do agree that your watch might well have some intrinsic value because of its design. Does the word "bling" come to mind?

As it is almost new - is it a wind up one? ?

When people are scared, they buy coins and bars, when they feel rich they buy jewellery. Fortunately though the jewellery has been declining in this millennium the scared have been more than making up for it, hence the busy scrap gold buyers.

Some posh watch asking prices here:
http://www.gemstonesuk.com/section.php?xSec=198&xPage=1
Many Ladies Gold Watches bought pre 2005 are worth considerably more money than most people paid for them. Average Gold Watch brands like Sekonda [Russian] have dramatically increased in value over the last few years, just for their metal weight. Obviously Rolex and top end watches have value as a watch.

Jaspersmum

Hello
I have a 9ctgold st christopher pendent and chain and a gents 9ct gold and hametite ring to sell, they are nice items and I thought too nice to scrap, so I have put them on ebay.
Unfortunately I am getting lots of questions asking how much they weigh, I only have scales that weigh flour so not much use for this job.
Anyway what I am saying is that would it be cheeky to go to a local cash for gold type place and ask them to weigh the items, its just that the ring is not all gold as it has the hametite stone. Do they generally tell you the weight or just offer you a price?
Thank you